Colombia Industry May 2016

Colombia: Industrial production expands at slower pace in May

July 15, 2016

Industrial production rose an annual 4.5% in May, down from April’s remarkable 8.2% increase, which had marked the highest figure since March 2014. May’s reading reflected increases in 22 out of the 39 components of the index. A strong expansion in the petroleum and combustibles component was largely behind May’s overall gain.

The 12-month trend continued on an upward trend as average annual growth in industrial production reached 3.9% in May, which followed the 3.3% expansion observed in April and marked the highest average growth rate since February 2012.

Panelists surveyed for this month’s LatinFocus report expect that industrial production will expand 6.0% in 2016, which is up 0.2 percentage points from last month’s forecast. For 2017, the panel expects industrial production to increase 4.0%.

Author:Robert Hill, Economist

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According to the latest GDP data released by the National Statistical Institute (DANE) on 22 November, the economy grew at broadly the same pace in the third quarter as it did in the second, dipping just marginally.

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